Question: Use the first image to answer the questions Imagine instead of estimating the model wage, = Bo + Seduc, + 8, we instead estimate In(wage;)

Use the first image to answer the questions

Imagine instead of estimating the model wage, = Bo + Seduc, + 8, we instead estimate In(wage;) = Bot Reduci + &; Which gives us the estimated regression: Call: Im(formula = log(wage1_dropSwage) ~ wage1_dropSeduc) Residuals: Min 10 Median 30 Max -2. 20632 -0. 35742 -0. 06736 0. 30131 1. 52865 Coefficients: Estimate Std. Error t value Pr(>|t/) (Intercept) 0. 524577 0. 101366 5. 175 3.26e-07 ### wagel_dropSeduc 0.087238 0. 007865 11.092

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